All three major US stock indexes were down in late-morning trading Wednesday as more big banks reported their quarterly earnings results.

In company news, Bank of America (BAC) reported Q4 earnings Wednesday of $0.98 per diluted share, up from $0.83 a year earlier and above the FactSet consensus analyst estimate of $0.96. Q4 revenue was $28.37 billion, up from $26.48 billion a year ago and above the FactSet consensus of $27.76 billion. Bank of America shares were down 4.1% around midday.

Citigroup (C) reported Q4 net income Wednesday of $1.19 per diluted share, down from $1.34 a year earlier and below the FactSet consensus of $1.65. Q4 revenue was $19.87 billion, up from $19.47 billion a year ago but below the FactSet consensus estimate of $20.95 billion. Citigroup shares were down 3.3%.

Wells Fargo (WFC) reported Q4 net income Wednesday of $1.62 per diluted share, up from $1.43 a year earlier but below the FactSet consensus of $1.66. Q4 revenue was $21.29 billion, up from $20.38 billion a year ago but below the FactSet consensus of $21.65 billion. Wells Fargo shares were down 4.6%.

Trip.com (TCOM) said Wednesday it has received an investigation notice from China's State Administration for Market Regulations related to the nation's anti-monopoly law. The company is accused of abusing its dominant market position, news outlets reported, citing the regulator. Trip.com shares were down 17%.

Price: 52.12, Change: -2.43, Percent Change: -4.45